Six Flags CEO may get $3 million restructuring bonus

Posted Wednesday, April 15, 2009 8:09 PM | Contributed by Lord Gonchar

Six Flags Inc., the U.S. theme-park owner facing possible bankruptcy, set a $3 million “success bonus” for Chief Executive Officer Mark Shapiro, to be awarded if the company restructures its debt out of court or goes through Chapter 11 reorganization. The bonus is part of an employment agreement with Shapiro extended through April 1, 2013, Six Flags said in a regulatory filing yesterday. Five other managers also had contracts extended with such bonuses. The accords keep the base salaries at current levels.

Read more from Bloomberg.

Friday, April 17, 2009 4:49 PM

O.K. there it is Carrie, I got booted off.

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Friday, April 17, 2009 4:57 PM

Man, the stock hit an alltime low .13. GO Shap...Go Shap... It's your birthday... It's your birthday......

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Friday, April 17, 2009 7:19 PM
LostKause's avatar

That's the kind of CoasterBuzz I enjoy! People can have a nice discussion without calling each other names or putting them down for having a different perspective!

Thanks for a great thread read!


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Saturday, April 18, 2009 12:29 AM
Jeff's avatar

LostKause said:
What if he valued his job and did his best to keep it, because he made enough money to pay the bills?

Then good for him, he's doing his job. A job that requires no skill beyond filling out the application. See Gonch's point about scarcity.


Jeff - Editor - CoasterBuzz.com - My Blog - Silly Nonsense

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Saturday, April 18, 2009 1:46 AM

wild ride said:
Yea, but education makes no difference at Six Flags. I know a 35,000 dollar a year supervisor that has less education than the kid's that she supervises. She was a security guard, a director, well let's just say, he took a liking to her, stamped supervisor on her forhead, gave her a fulltime position, an office, the whole nine yard's. Never once ask her qualifacation's. But if he was looking for a high school drop out with no GED, who was dismissed from the U.S. army for refusing to do her duty, he did good. I guess most of you here would just say "good for her" but I say, it is a tradgedy when college graduates get turned away from job's like this, or the college student's trying to pay thier way through college. What kind of message does that send to our youth?

It says, "We promote from within. If you were a screw-up in a past life but you impress us enough here, you can advance in this company."

Notice that you make a lot of comments on this person's resume, and say almost nothing about the person's work with the company...and THAT is what is important when it comes time for promotion. Education and experience only count for getting hired, and if you are hiring into a position for which none of that matters....well, you know the rest.

--Dave Althoff, Jr.

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Saturday, April 18, 2009 2:12 AM
LostKause's avatar

So, does this society value hard work or not?


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Saturday, April 18, 2009 12:14 PM

So, because she was a security guard(for 6 months) this guy looked at her, said, great job in security(sitting in a shack letting cars with green tag's enter) Now your a dept. supervisor? Come on. My feeling is, if you dissed our military men and women, it should be twice as hard for you to advance in any U.S. operated Co. But I guess no one really knows if you lie to get your job, and that Co. doesn't check background's. I thought most people here where patriotic. Sorry Rideman.

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Saturday, April 18, 2009 1:07 PM

So, does this society value hard work or not?

Yes, but not exclusively, and probably not even primarily. Just working hard is not enough to "get rewarded" if you are working hard doing something that doesn't have high intrinsic value. But, it can help. I forget where I read it, but recently I came across something along the lines of this advice:

If two people get a job, and one works 40 hours a week, but the other works 50, at the end of ten years, the first guy has 10 years of experience. The second guy has 12 and a half. Be the second guy.


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Saturday, April 18, 2009 1:26 PM
Jeff's avatar

Hours worked has nothing to do with experience or qualification, as far as I'm concerned, but that's probably a different discussion. A sales guy who works 20 hours a week and sells twice as much as the guy who works 40 hours a week, well, I'll take the shorter hour worker.


Jeff - Editor - CoasterBuzz.com - My Blog - Silly Nonsense

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Saturday, April 18, 2009 1:32 PM

I thought it went without saying, but it was not meant to be taken entirely literally. The gist is: working harder means that you face more challenges in your job---learning to overcome those challenges faster gives your superiors a reason to give you the next set of challenges earlier rather than later (or, not at all).

Last edited by Brian Noble, Saturday, April 18, 2009 1:35 PM
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Saturday, April 18, 2009 2:38 PM
Carrie M.'s avatar

wild ride said:
So, because she was a security guard(for 6 months) this guy looked at her, said, great job in security(sitting in a shack letting cars with green tag's enter) Now your a dept. supervisor? Come on. My feeling is, if you dissed our military men and women, it should be twice as hard for you to advance in any U.S. operated Co. But I guess no one really knows if you lie to get your job, and that Co. doesn't check background's. I thought most people here where patriotic. Sorry Rideman.

So you know "a guy" who hired "a girl" who had a sketchy background by your estimation and lacked the qualifications for the job from what you know about her and the job. And that translates to a conclusion about the hiring polices/practices for the entire Six Flags organization? I just can't get there from that.


"If passion drives you, let reason hold the reins." --- Benjamin Franklin

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Saturday, April 18, 2009 4:14 PM
LostKause's avatar

I was trying to read the story between the lines, and came up with some pretty colorful ideas...


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Sunday, April 19, 2009 1:46 PM

BINGO!!! Thank you. The good ole saying "it's not who you know, it's who you......

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Sunday, April 19, 2009 1:49 PM

Carrie, when you post a job ad on your own web site that states High School diploma or equivalent required, degree prefeered!! Yes their company web site. SIX FLAGS. Not a "guy" a SIX FLAGS DEPT. DIRECTOR. Got it......

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Sunday, April 19, 2009 2:32 PM

wild ride said:


I mean, where else can you have that much fun, any day of the week for 50 bucks? The value is awesome.

I'll give you a few. Where you from?


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Sunday, April 19, 2009 2:59 PM

d_port_12E said:

wild ride said:


I mean, where else can you have that much fun, any day of the week for 50 bucks? The value is awesome.

I'll give you a few. Where you from?

We don't need to start that that is how craigslist
got in trouble

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Sunday, April 19, 2009 3:05 PM
Carrie M.'s avatar

wild ride said:
Carrie, when you post a job ad on your own web site that states High School diploma or equivalent required, degree prefeered!! Yes their company web site. SIX FLAGS. Not a "guy" a SIX FLAGS DEPT. DIRECTOR. Got it......

My point is that even if this story is true, it represents one bad seed in the entire organization. What is your point? Are you trying to suggest that it represents what is happening within all of Six Flags? I don't buy that.

You need to step off a little, wild ride. If you want to be that kind of belligerent I would suggest working on a few things first. You haven't been here that long, your spelling is weak, and you seem to have trouble forming complete sentences.


"If passion drives you, let reason hold the reins." --- Benjamin Franklin

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Sunday, April 19, 2009 3:10 PM

^^LOL Kevin. Was simply going to suggest some cheaper places to get on a ride or two. Amusement park rides, that is.


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Sunday, April 19, 2009 3:49 PM
LostKause's avatar

And then there are movie theaters, go-cart tracks, arcades, and Chuck-e-Cheese, to name a few place where you can have a great time for under $50 per person.

Not to mention the countless state, city, and national parks, lakes, and beaches, most of which are free to visit.


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Sunday, April 19, 2009 4:17 PM

O.K. Let me clarify, did I spell that right Carrie? I don't know how many times it has happened and neither does Six Flags. Because obviously they ask for certain requirement's in an applicant and then do not check to see if they have them. I know if I were in management I would want to know if I had an employee with a dishonorable discharge under their belt. Especially when my company has an " Armed Forces Day" at the park every year. And you don't need to suggest that I work on anything. You should check your own grammar and spelling first........Peace

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